This Could be the Go Time Weekend
by John Galt
June 14, 2012
First and foremost, this is just an advisory of what my personal plan of action will be over the next 120 hours and not a recommendation for anyone to repeat or engage in any of these actions, especially if they can not afford to do so. There is not guarantee that this is the weekend where the events in Europe and the Middle East create the ultimate storm of financial disruption which washes over the American seawall like a Tsunami of economic doom, but to watch the events of this week and thus far this morning and to do nothing to protect and prepare my family is foolishness.
The summary of events which are prompting my course of action:
1. Greek elections with a distinct possibility of results that plunge the nation into chaos and even civil war. The inherent instability there is already bleeding over throughout the Balkans as other nations in the region are suffering the spillover effects of the rapid economic contraction.
2. Cyprus appears to be on the path to receiving a bailout while unification talks between “North Cyprus” or the Turkish zone appear to have broken down. If the United Nations mediator departs without an agreement and the bailout occurs, the oil and natural gas reserves discovered by the Greeks may well be used as collateral for the loans from the European Central Bank creating more friction between Greece and Turkey; especially if the election results in Greece produce a radical nationalist alliance.
3. Italy and Spain’s sudden and rapid economic collapse is impacting the banking systems throughout Europe and will ultimately hit the U.S. causing a contraction in investment and spending and a much more severe contraction/recession than 2008 as our nation’s structure to deal with this problem is far weaker than the prior collapse.
4. Egypt is on the verge of civil war and/or a military coup d’etat. The stories from the Egypt Independent this morning are alarming at best, terrifying in the implications to the region at worst: